28% GST on online gaming-Food items will be cheap!!!
28% GST on online gaming-Food items will be cheap!!!
Several important decisions were taken in the 50th meeting of the GST Council in New Delhi. As the biggest decision among these, the GST Council approved the imposition of 28% tax on online gaming, horse riding and casinos. Earlier the tax rate on these was 18 percent. At the same time, the recommendation to reduce GST on the bill on food and beverages in the cinema hall was also approved. Now 5% GST will be imposed on them instead of 18%. Union Finance minister Nirmala Sitharaman gave information about all these decisions in the press conference.
Apart from this, while giving great relief to the patients suffering from cancer, the government said that IGST will not be levied on imported cancer medicines. GST on uncooked snacks has been reduced from 18% to 5%.
28% GST decision on online gaming is important
For a long time, the GST Council was discussing about online gaming. This time the council has decided to impose 28% tax on online gaming. The council has decided to impose 28 per cent GST on online gaming with some modifications. It has been agreed to levy 28% GST on horse racing, casinos. GST Council has not made any distinction between skill based game and chance based game
Decision based on the recommendation of the Group of Ministers